Sheng Siong Group's Valuations Appear Stretched -- Market Talk

Dow Jones03-03

0008 GMT - Sheng Siong Group's valuations appear stretched, says Citi analyst Gan Huan Wen in a note. The Singapore-listed grocery retailer's 2026 outlook appears bright, as it could benefit from government vouchers while earnings should see a boost from stores opening this year, the analyst says. However, the stock is trading around two standard deviations higher than its historical average, and the company's upbeat prospects appear to already be priced in, he says. He also trims his 2026 and 2027 net profit projections by 2.0% and 1.0%, respectively, to factor in the retailer's full-year results. Citi downgrades the stock to neutral from buy on stretched valuations but raises its target price to S$2.80 from S$2.55 thanks to Sheng Siong's outlook. Shares last closed at S$2.63. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 02, 2026 19:08 ET (00:08 GMT)

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He also trims his 2026 and 2027 net profit projections by 2.0% and 1.0%, respectively, to factor in the retailer's full-year results. Citi downgrades the stock to neutral from buy on stretched valuations but raises its target price to S$2.80 from S$2.55 thanks to Sheng Siong's outlook. Shares last closed at S$2.63. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 02, 2026 19:08 ET (00:08 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sheng Siong Group's Valuations Appear Stretched -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSheng Siong Group's Valuations Appear Stretched -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-03 08:08</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0008 GMT - <a href=\"https://laohu8.com/S/SHSGF\">Sheng Siong</a> Group's valuations appear stretched, says Citi analyst Gan Huan Wen in a note. The Singapore-listed grocery retailer's 2026 outlook appears bright, as it could benefit from government vouchers while earnings should see a boost from stores opening this year, the analyst says. However, the stock is trading around two standard deviations higher than its historical average, and the company's upbeat prospects appear to already be priced in, he says. He also trims his 2026 and 2027 net profit projections by 2.0% and 1.0%, respectively, to factor in the retailer's full-year results. Citi downgrades the stock to neutral from buy on stretched valuations but raises its target price to S$2.80 from S$2.55 thanks to Sheng Siong's outlook. Shares last closed at S$2.63. 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However, the stock is trading around two standard deviations higher than its historical average, and the company's upbeat prospects appear to already be priced in, he says. He also trims his 2026 and 2027 net profit projections by 2.0% and 1.0%, respectively, to factor in the retailer's full-year results. Citi downgrades the stock to neutral from buy on stretched valuations but raises its target price to S$2.80 from S$2.55 thanks to Sheng Siong's outlook. Shares last closed at S$2.63. 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